Find the present value PV of the annuity account necessary to fund the withdrawal given. (Assume end-of-period withdrawals andcompounding at the same intervals as withdrawals. Round your answer to the nearest cent.)$2,100 per quarter for 15 years, if the account earns 4% per yearPV = $Need Help?Read ItWatch It

In the given question an amount of $ 2,100 per quarter will be withdrawn for next 15 years.…

Answered: Find the present value PV of the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Find the present value PV of the annuity account necessary to fund the withdrawal given. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $2,100 per quarter for 15 years, if the account earns 4% per year PV = $